Vijay Mallya, who is due to be extradited to India, has applied for "another route" to be able to stay in the UK, the embattled liquor tycoon's barrister representing him in bankruptcy proceedings in the High Court here confirmed in the court for the first time, the Deccan Herald reported.

Online fashion retailer Boohoo Group Plc is set to acquire collapsed British department store group Debenhams in a cut-price deal that will result in the closure of the group’s remaining department stores, the Financial Times reported on Sunday, according to Reuters. The purchase price is expected to be about 50 million pounds ($68.39 million) and a deal could be announced in the next few days, the newspaper reported, citing two people with knowledge of the transaction.

If one of the main reasons coronavirus infection rates remain so high is that people refuse to self-isolate, paying them to stay home could make a difference. But doing so isn’t just expensive, it risks some unintended consequences, according to a Bloomberg commentary. The U.K. Department of Health is reportedly recommending a plan to pay workers 500 pounds ($683) to self-isolate, according to a leaked document detailed by the Guardian on Friday.

Britain’s first weeks of doing business outside of the EU have been mixed, as goods from large companies mainly sail through ports but many small businesses struggle with the new post-Brexit rules, the Wall Street Journal reported. Still, the true test of the U.K.’s new relationship with the EU will come in the next few weeks, say trade experts and companies, as shipment volumes increase and the difference between teething problems and permanent obstacles becomes more apparent at one of the world’s biggest trade borders.

The All-Party Parliamentary Group (APPG) on Fair Business Banking, supported by law firm Humphries Kerstetter LLP, is to conduct an in-depth investigation into standards in the UK insolvency profession, AccountancyAge.com reported. The APPG on Fair Business Banking is concerned there might be systemic issues with how the corporate insolvency sector is regulated after hearing a number of worrying cases, according to Heather Buchanan, executive director, policy and strategy at the APPG.

The Bank of England’s chief economist said the government can afford to end its furlough plan before the U.K.’s recovery is fully complete, Bloomberg News reported. Andy Haldane, who has been the most publicly optimistic of the central bank’s rate-setting committee, said the economy may be growing quickly enough by the second quarter to absorb the 1 million people who lost their jobs in the coronaviurus crisis.

Chancellor of the Exchequer Rishi Sunak can’t afford to wait for the budget on March 3 to provide extra support for hobbled U.K. firms, according to the U.K.’s biggest business lobby group, Bloomberg News reported. With Britain back in a severe lockdown, urgent action is needed to help companies survive, the Confederation of British Industry said in a letter to the Chancellor on Tuesday.

A recent survey from the Federation of Small Businesses predicts just under 5% of its members will close in 2021. With the government reporting some 5.9 million small businesses in the UK, this means we could be looking at some 250,000 insolvencies over the coming period, HRNews.co.uk reported. Some 1400 firms responded to the FSB’s survey, which also recorded 58% of businesses predicting an overall reduction in profitability, and nearly 25% of businesses having reduced the number of employees since the start of last year. 14% say they’ll be cutting numbers again within three months.

The Treasury has extended by a week the consultation period on proposed insolvency changes for payment institutions (PIs) and electronic money institutions (EMIs), which include establishing a new special administration regime (SAR), AccountancyDaily.co reported. The move is in response to findings from last year’s Payments Landscape Review, which noted a number of failing in the existing insolvency process for consumers using PIs and EMIs, such as card, mobile and electronic wallets.